To establish films as a unique calling card for Taiwan and its cultural wealth, the Ministry of Culture launched the nation's first-ever National Film Institute on July 28, 2014.
The functions of the National Film Institute will be handled by the Taiwan Film Institute (TFI, 國家電影中心), an agency responsible for collecting, restoring, preserving, and researching on films made in the Republic of China (Taiwan).
The physical infrastructure of the Institute will be completed in New Taipei's Xinzhuang District before the end of 2020. Upon completion, the Institute will include a 2.6-hectare Cinema Park containing theaters, performance venues, a film library, and a digital restoration center.
The establishment of a National Film Institute will not only help to promote Taiwan's films and moviemakers, but also consolidate the nation's resources in perpetuating the industry's success, including the cultivation of new personnel to help boost the quality, output, and international presence of Taiwan-made films.
The Institute will also be tasked with preserving the nation's film legacy, including the restoration of 5 to 10 classic films from Taiwan's century-long cinema history on an annual basis, and an ongoing hunt for rare movie stills, posters, and manuscripts.
The production value of Taiwan's film industry grew by an annual average of NT$2 billion between 2008 to 2012. To replicate the same success, which translates into a compound growth rate of roughly 12 percent over a 4-year period, the Institute will receive an annual budget of NT$170 million to carry out its responsibilities.
Other tasks that were once divided among government agencies include the organization of film-related events, such as the Taiwan International Documentary Festival. The annual festival now falls within the jurisdiction of the Institute, which may also take over the duties of organizing other large-scale film events in the future.